Guideline Value for THIRUVALLUVAR STREET (VENKATRAMAN NAGAR)

Thiruvalluvar Street (Venkatraman Nagar) guideline value

The current guideline value of Thiruvalluvar Street (Venkatraman Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class II Type - III.

How the guideline value of Thiruvalluvar Street (Venkatraman Nagar) has changed

Over the years, the guideline value for Thiruvalluvar Street has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,300 per sq.ft in the 2023 revision, and then further rose to Rs 2,500 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024, and by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, which aligns with the current value for Thiruvalluvar Street (Venkatraman Nagar).

• Thirumullaivoyal Road: Rs 2,500 per sq.ft (2024)
• Thirumal Nagar: Rs 1,600 per sq.ft (2024)
• Thirumalai Square (Rajiv Nagar Korattur): Rs 2,100 per sq.ft (2024)
• Thirumalai Square (Balaji Nagar): Rs 2,100 per sq.ft (2024)
• T.N.H.B.Periyar Nagar Centarl Avenue: Rs 7,100 per sq.ft (2024)
• T.N.H.B.Periyar Nagar East Avenue: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street (Venkatraman Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees together to Rs 2,25,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruvalluvar Street (Venkatraman Nagar)?

The Sub Registrar Office that covers Thiruvalluvar Street (Venkatraman Nagar) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Korattur

The guideline value is a crucial figure used during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that all transactions are recorded at a fair value, facilitating transparency in property dealings. Buyers and sellers should be aware of the current guideline value to accurately calculate their costs during the transaction process.

Frequently asked questions

What is the current guideline value for Thiruvalluvar Street (Venkatraman Nagar)?

The current guideline value for Thiruvalluvar Street (Venkatraman Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What are the other streets in Korattur and their guideline values?

Other streets in Korattur include Thirumullaivoyal Road at Rs 2,500 per sq.ft, Thirumal Nagar at Rs 1,600 per sq.ft, and Thirumalai Square (Rajiv Nagar Korattur) and (Balaji Nagar) both at Rs 2,100 per sq.ft, among others.

What is the registration fee for properties in Thiruvalluvar Street?

The registration fee for properties in Thiruvalluvar Street is calculated at 2% of the guideline value. For example, a property valued at Rs 25,00,000 would incur a registration fee of Rs 50,000.

Where can I find the Sub Registrar Office for Thiruvalluvar Street?

The Sub Registrar Office for Thiruvalluvar Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.